windfall tax


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windfall tax

n
(Economics) a tax levied on an organization considered to have made excessive profits, esp a privatized utility company that has exploited a monopoly
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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A windfall tax is being proposed for Russian natural resources companies whose earnings have benefited from the rouble depreciation since 2014 while their tax burden is perceived to be lower than for oil and gas companies.
Unison said it believes a new windfall tax could prove a "lifeline" to under-pressure public services and would force PFI firms to pay back some of the billions of pounds they've made "at taxpayers' expense".
Lifwekelo noted that the late president Levy Mwanawasa administration was able to bring in US$480 million in one fiscal year at the introduction of windfall tax, pointing out that when this was collected, the county was producing less than 600,000 metric tons of copper per annum.
I would back John Major as he calls for a windfall tax but only if it is for the elderly/disabled and others who are entitled to various in and out of work benefits.
But the windfall tax is certainly worthy of serious consideration and shows Major to have more of a "heart" than Cameron or Osborne.
Midland Lib Dem John Hemming (Birmingham Yardley) is urging the Government to draw up windfall tax plans, with the money used "towards protecting the more vulnerable members of society".
The suggestion of a windfall tax as a way of recouping some of the profits made by the so-called "big six" energy companies was not without its irony.
So, Sir John Major has said enough is enough on energy bills and called for a windfall tax on vast profits.
First, they should examine the applicable code and regulations, as well as the design of the windfall tax. They should also be familiar with the effect of the windfall tax on the two aforementioned U.S.
Speaking during a debate in Westminster Hall, Mr Halfon told MPs: "We need a fuel rebate so that when the oil prices falls, big companies face a choice - either cut prices or the Government will continue to impose a windfall tax on profits and use the money to cut petrol prices anyway."
Oil & Gas UK, the trade association representing the offshore sector, have said the windfall tax will cost the industry as much as pounds 50billion over the next 10 years.